News Centre

Looks like Kinder Morgan dodged a very big bullet - but we're in the line of fire Posted (2018-06-14)

Prime Minister Justin Trudeau just dropped $4.5
billion of taxpayers’ money on a 67-year-old pipeline, with at least another $7
billion needed to finish what the private sector backed away from.

Is this shrewd investment?

Not according to researchers who just published a
paper in the prestigious journal Nature Climate Change. The study
‘Macroeconomic impact of stranded fossil fuel assets’ predicts that up to $4
trillion in global oil investments will evaporate as the world transitions to a
low carbon future.

Their research indicates rapidly
stranded oil assets could destabilize the global economy before 2035. ‘Our
conclusions support the existence of a carbon bubble that, if not deflated
early, could lead to a discounted global wealth loss of US $1 to $4 trillion, a
loss comparable to the 2008 financial crisis.’